The Globe and Mail reports in its Thursday, June 25, edition that Scotia Capital analyst Kevin Fisk resumed coverage of Kelt Exploration with a "sector outperform" rating and a $13 share target. The Globe's David Leeder writes in the Eye On Equities column that Mr. Fisk says in a note: "Kelt Exploration is a natural gas-weighted producer with high-quality assets in the Montney and Charlie lake plays. We believe the company is positioned to outperform for the following reasons: (1) management has a proven track record of creating shareholder value (at Kelt and a predecessor company). Further, a high level of insider ownership aligns management with shareholders. (2) The Montney is consolidating and Kelt's high-quality assets make it a takeout target. We believe the market value of Kelt's assets is not fully reflected in its share price. (3) The company is targeting meaningful production growth (14-per-cent five-year CAGR) supported by a deep inventory of drilling locations. Our target price of $13/share implies a one-year return of 46 per cent and is based on a 50/50 weighting of our sum-of-the-assets (SOA) NAV and a six times 2026 EV/DACF multiple."